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Daily-mcqs 08 Jun 2026

Current Affairs MCQs for UPSC & State PSC Exams 08 Jun 2026

Current Affairs MCQs for UPSC & State PSC Exams

Q1:

Consider the following statements regarding the Monetary Policy Committee (MPC):

1.   The MPC was given a statutory basis through an amendment to the RBI Act, 1934 in 2016.

2.   The MPC consists of six members, including three external members nominated by the Government of India.

3.   In the event of a tie during voting, the RBI Governor has a casting vote.

Which of the statements given above is/are correct?

A: 1 and 2 only

B: 2 only

C: 2 and 3 only

D: 1, 2, and 3

Show

Answer: D

Explanation:

Statement 1 is correct: The RBI Act was amended in 2016 to provide a statutory framework for the MPC and flexible inflation targeting.

Statement 2 is correct: The MPC comprises six members, including three external experts nominated by the Government of India.

Statement 3 is correct: In case of a tie, the RBI Governor exercises a casting vote.

Q2:

Consider the following statements regarding the Nilgiri Tahr:

1.   It is endemic to the Western Ghats and is the State Animal of Tamil Nadu.

2.   It is classified as Endangered on the IUCN Red List and is protected under Schedule I of the Wildlife (Protection) Act, 1972.

3.   It is primarily found in tropical montane grasslands and shola forest ecosystems.

Which of the statements given above is/are correct?

A: 1 and 2 only

B: 1 and 3 only

C: 2 and 3 only

D: 1, 2, and 3

Show

Answer: D

Explanation:

Statement 1 is correct: The Nilgiri Tahr is endemic to the Western Ghats and is the State Animal of Tamil Nadu.

Statement 2 is correct: It is listed as Endangered by the IUCN and receives the highest level of protection under Schedule I of the Wildlife (Protection) Act, 1972.

Statement 3 is correct: The species is specially adapted to tropical montane grasslands and shola forest ecosystems of the Western Ghats.

Q3:

Consider the following statements regarding the macro-economic trends of India in FY 2025–26:

Private Final Consumption Expenditure (PFCE), which serves as a proxy for household spending, grew at a slower rate compared to its performance in FY 2024–25.

Gross Fixed Capital Formation (GFCF) trends indicate robust business confidence, hitting a multi-quarter high in the final quarter of FY 2025–26.

The agricultural Gross Value Added (GVA) experienced negative growth, indicating a severe contraction in the primary sector.

Which of the statements given above is/are correct?

A: 1 and 2 only

B: 1 and 3 only

C: 2 only

D: 1, 2, and 3

Show

Answer: C

Explanation:

Statement 1 is incorrect: Private Final Consumption Expenditure (PFCE) actually accelerated significantly. It increased by 7.7% in FY 2025–26, which is much higher than the 5.8% growth recorded in FY 2024–25, rather than growing at a slower rate.

Statement 2 is correct: Gross Fixed Capital Formation (GFCF), the primary proxy for investment, grew by 8.2% across the fiscal year and peaked at a 13-quarter high of 10.8% during the January–March 2026 quarter. This reflects robust capital expenditure and business confidence.

Statement 3 is incorrect: The agricultural sector did not contract. Its Gross Value Added (GVA) growth merely moderated to 3% from the 4.2% recorded in FY 2024–25. Slower positive growth is a moderation, not a negative contraction.

Q4:

With reference to Indian economy, consider the following statements regarding Gross Domestic Product (GDP) and Gross Value Added (GVA):

GDP maps the supply-side performance of the economy at basic prices, while GVA maps the demand-side performance at market prices.

If real GVA growth is higher than real GDP growth during a fiscal period, it indicates that economic expansion was heavily supported by supply-side production activity.

GVA provides a sector-wise analysis of the economy by explicitly isolating distortions caused by changes in product taxes and subsidies.

Which of the statements given above are correct?

A: 1 and 2 only

B: 1 and 3 only

C: 2 and 3 only

D: 1, 2, and 3

Show

Answer: C

Explanation:

Statement 1 is incorrect: The definitions are reversed. GDP reflects the demand-side performance of the economy and is calculated at market prices. GVA reflects the supply-side performance of production sectors and is calculated at basic prices.

Statement 2 is correct: For FY 2025–26, real GVA growth stood at 7.9%, outstripping the GDP growth rate of 7.7%. This mathematical trend specifically indicates that economic expansion was deeply anchored in production activity rather than being driven entirely by demand.

Statement 3 is correct: GVA tracks the exact value added by producers by subtracting intermediate consumption from total output. By calculating output at basic prices, it excludes product taxes and subsidies, thereby avoiding fiscal distortions and giving policymakers a clear picture of true sectoral health.